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The End of China's Boom?

Updated Jan. 20, 1999 12:01 a.m. ET

By Thomas G. Rawski, an economist and China specialist at the University of Pittsburgh.

C hina's reforms have delivered two decades of astonishing progress. Even allowing for inflated statistics, the recently announced 7.8% growth figure for 1998 looks good in comparison with performance elsewhere in East Asia. But there is trouble ahead. The growing list of difficulties includes stagnant exports, falling profits and rising...